Drug Discovery Services Market Updates To 2021: Brief, Trends, Applications, Types, Research, Forecast To 2027
NEW YORK, NY, USA, January 20, 2022 /EINPresswire.com/ — Global Drug Discovery Services MarketBy process (target selection, target validation, outcome identification, lead optimization, candidate validation), by drug type (small molecules, biologics) by type (medicinal chemistry, biology services, drug metabolism Drugs and Pharmacokinetics), by Application (Cardiology, Pulmonology, Oncology, Ophthalmology, Neurology, Orthopedics, Other) and Opportunities and Forecast 2020-2027
Drug Discovery Services Market Overview
Research and development activity has grown considerably within the pharmaceutical and biopharmaceutical industry. Pharmaceutical, biopharmaceutical and medical device companies invest heavily in the development of new drugs and devices, with most spending targeting Phase III clinical trials and therefore the preclinical stages of drug development. One of the major factors propelling the global drug discovery services market is the growth in research and development expenditure fueled by the need for varied preclinical and clinical services during the drug discovery and development process.
Further increases in research and development expenditure over the next few years will boost drug discovery and development activities, which can ensure the growth of the drug discovery services market over the forecast period .
Drug discovery and development involves high costs due to the high attrition rate of drug candidates in development. Since R&D for a few rare diseases is extremely difficult and requires a select group of individuals to perform a clinical trial, drug R&D processes are often prone to failure.
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Impact of Covid-19 on the Drug Discovery Services Market:
In addition, this study on the global market offers an in-depth analysis of the current impact of the COVID-19 pandemic on market growth and its influence on the longer term growth of the global market. The recently released report shows the rise in demand for the healthcare sector. Healthcare manufacturers have also experienced the future as a short-term effect that incorporates supply shortages, panic buying and stockpiling, short-term regulatory changes as approval delays and Possible trend variations in consumption could be seen as long-term impacts of COVID-19 on the healthcare and pharmacy market.
The growing need for a cure has pushed research and vaccine manufacturers to their limits. In addition to the present, the panic conditions have already boosted the demand for several healthcare products and services which are discussed in detail in this report. Additionally, the impact of this pandemic on the overall market revenue for the base year 2020 and its projection to 2027 are detailed in this report.
Overview of Drug Discovery Services Market Segment
By process, compared to the varied processes within drug discovery departments, Hit-To-Lead identification should achieve maximum traction. The increase in searches supported by High Throughput Screening (HTS) is the main factor driving the use of the lead identification process.
On the basis of type, the medicinal chemistry services segment is estimated to account for the largest share of the drug discovery services market in 2020. The large share of this segment is due to factors such as widespread application of medicinal chemistry in various phases of preclinical drugs. discovery to provide robust candidates. Additionally, the extensive use of medicinal chemistry in universities, biotechnology companies, and major pharmaceutical companies is also supporting the growth of the market.
Based on drug type, the drug discovery services market is segmented into small molecule drugs and biologic drugs. In 2019, small molecule drugs accounted for the largest market share, as small molecule drugs are simple, well-defined and easy to characterize. Due to these characteristics, they quickly penetrate cells, affect molecules and cause cancer cell death.
By application, the oncology segment is expected to account for the largest market share in 2020, also with the highest growth rate. This will be mainly attributed to the growing number of cancer patients and hence the subsequent increase in demand for cancer treatments.
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Market Analysis, Outlook and Forecast – By Process
· Lead Optimization
· Validation of candidates
Market Analysis, Outlook and Forecast – By Drug Type
· Organic Products
Market Analysis, Outlook and Forecast – By Type
Drug metabolism and pharmacokinetics
Market Analysis, Outlook and Forecast – By Application
Regional Overview of Drug Discovery Services Market
Regionally, in terms of regions, North America accounted for the largest share of the drug discovery services market. The large share of this market segment is often attributed primarily to the presence of well-established CROs, increasing R&D spending by pharmaceutical and biopharmaceutical companies, and hence availability of latest techniques, instruments and facilities for research on drug discovery.
Drug Discovery Services Market, By Geography
North America (USA and Canada)
Europe (UK, Germany, France, Italy, Spain and Rest of Europe)
Asia-Pacific (Japan, China, India, Australia, South Korea and Rest of Asia-Pacific)
LAMEA (Brazil, Saudi Arabia, United Arab Emirates and rest of LAMEA)
Overview of Drug Discovery Services Market Competitors
Some key developments and strategies adopted by manufacturers in drug discovery services are highlighted below.
· In 2020, Covance entered into a partnership with Medable to accelerate the adoption of decentralized trial technology.
Drug Discovery Services Market, Key Players
urigene Discovery Technologies
Genscript Biotech Corporation, Covance
· Pharmaceutical Product Development, LLC.
Charles River International Laboratories
Albany Molecular Research Inc.
Thermo Fisher Scientific Inc.
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Drug Discovery Services Market Research Global Market Analysis, Outlook and Forecast, 2020-2027
1.1. Search scope
1.2. Market segmentation
1.3. Research Methodology
1.4. Definitions and assumptions
2. Executive Summary
3. Market dynamics
3.1. Market factors
3.2. Market constraints
3.3. Market opportunities
4. Key information
4.1. Main emerging trends – for main countries
4.2. Latest technological advancement
4.3. Regulatory landscape
4.4. Industry SWOT Analysis
4.5. Analysis of the five forces of carriers
5. Global Drug Discovery Services Market (USD Billion) Analysis, Outlook and Forecast, 2020-2027
5.1. Main results/summary
5.2. Market Analysis, Outlook and Forecast – By Process
5.2.1. Target selection
5.2.2. Target validation
5.2.3. Hit-To-Lead Identification
5.2.4. Lead Optimization
5.2.5. Validation of candidates
5.3. Market Analysis, Outlook and Forecast – By Drug Type
5.3.1. small molecules
5.3.2. Organic Products
5.4. Market Analysis, Outlook and Forecast – By Type
5.4.1. Medical chemistry
5.4.2. Biology services
5.4.3. Drug metabolism and pharmacokinetics
5.5. Market Analysis, Outlook and Forecast – By Application
5.6. Market Analysis, Outlook and Forecast – By Region
5.6.1. North America
5.6.3. Asia Pacific
5.6.4. Latin America, Middle East and Africa
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